MANAGEMENT

Detailed explanation-1: -Word-of-mouth is even more effective than paid ads, resulting in five times more sales. 28% of people say that word-of-mouth increases brand affinity (a customer’s common values with a brand). 64% of marketers agree that word-of-mouth is the most effective form of marketing.

Detailed explanation-2: -Billboards, those large signs used for advertising, are often called hoardings in British English. To be in the market for something means to be ready to buy something. A buyer’s market is a market that favours the consumer not the seller. The places where products are sold are called retail outlets.

Detailed explanation-3: -An advertisement refers to a paid form of communication that promotes a service, product or brand. Marketers use advertisements to help companies reach their objectives and increase revenue. Often, they design advertisements for specific groups of potential customers.